(1) The purpose of this article is to protect, subject to certain limitations, the persons specified in Section 83-23-205(1) against failure in the performance of contractual obligations, under life, health, and annuity policies, plans or contracts specified in Section 83-23-205(2), because of the impairment or insolvency of the member insurer that issued the policies, plans or contracts.(2) To provide this protection, an association of member insurers is created to pay benefits and to continue coverages as limited herein, and members of the association are subject to assessment to provide funds to carry out the purpose of this article.Laws, 1985, ch. 482, § 2; Laws, 1990, ch. 546, § 1, eff. 7/1/1990.Amended by Laws, 2020, ch. 304, SB 2227,§ 1, eff. 7/1/2020.
Mississippi Legal Code